Tokenization of the music industry with music NFTs | Opinion

Impact of Napster on Music Distribution: Napster revolutionized music sharing through its peer-to-peer file-sharing service, gaining over 20 million users by 2000 but was shut down in 2001 due to legal issues related to copyright infringement. Its technology laid the groundwork for future digital music distribution and the concept of virtual currencies like Karma.

Tokenization and Legal Challenges in Music Industry: The rise of music NFTs and tokenization offers musicians new revenue streams and creative options, but it also introduces potential legal challenges regarding copyright, taxation, and compliance with regulations that could complicate the evolving landscape of digital music assets.